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24.—(1) Where a person claims a lien on a document its production under regulation 22 above shall be without prejudice to the lien.
(2) An inspector appointed under regulation 22 above may, and if directed by the relevant authority shall, make interim reports to the authority and on the conclusion of his investigation shall make a final report to the authority.
(3) If it appears to the relevant authority that matters have come to light in the course of an inspector’s investigation which suggest that a criminal offence has been committed, and those matters have been referred to the appropriate prosecuting authority, the relevant authority may direct the inspector to take no further steps in the investigation or to take only such steps as are specified in the direction.
(4) Where an investigation is the subject of a direction under paragraph (3) above, the inspector shall make a final report to the relevant authority only where it directs him to do so.
(5) Each final report shall be written or printed as the relevant authority may direct and the authority may, if it thinks fit—
(a)furnish a copy, on request and on payment of the prescribed fee—
(i)to any director or shareholder, or to the depositary, of a company under investigation by virtue of paragraph (1) of regulation 22 above;
(ii)where a director under investigation by virtue of that paragraph is a body corporate, to any director of that body;
(iii)to any director of a depositary under investigation by virtue of that paragraph; or
(iv)to any other person whose conduct is referred to in the report; and
(b)cause the report to be published.
(6) A person who is convicted on a prosecution instituted as a result of an investigation under regulation 22 above may, in the same proceedings, be ordered to pay the expenses of the investigation to such extent as may be specified in the order.
(7) For the purposes of paragraph (6) above, there shall be treated as expenses of the investigation, in particular, such reasonable sums as the relevant authority may determine in respect of general staff costs and overheads.
(8) The powers in section 205(1) of the 1986 Act (general power to make regulations), as they apply in relation to fees to be prescribed for the purposes of section 94(9) of that Act (investigations in respect of authorised unit trusts etc), shall be exercisable in relation to fees to be prescribed for the purposes of paragraph (5)(a) above—
(a)for like purposes; and
(b)subject to the same conditions.
Section 205 was substituted by section 206(1) of, and paragraph 18 of Schedule 23 to, the Companies Act 1989 (c. 40) and amended by the Transfer of Functions (Financial Services) Order 1992 (S.I. 1992/1315).
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